Dollar General 2004 Annual Report Download - page 60

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58
Notes to Consolidated Financial Statements (continued)
For the Year Ended January 28, 2005
Dollar General
Corporation
Guarantor
Subsidiaries Eliminations
Consolidated
Total
Statements of Income:
Net sales $ 171,369 $ 7,660,927 $(171,369) $7,660,927
Cost of goods sold — 5,397,735 — 5,397,735
Gross profit 171,369 2,263,192 (171,369) 2,263,192
Selling, general and administrative 138,111 1,739,474 (171,369) 1,706,216
Operating profit 33,258 523,718 — 556,976
Interest income (6,182) (393) — (6,575)
Interest expense 21,435 7,359 — 28,794
Income before income taxes 18,005 516,752 — 534,757
Income taxes 7,667 182,900 — 190,567
Equity in subsidiaries’ earnings, net of taxes 333,852 — (333,852) —
Net income $ 344,190 $ 333,852 $(333,852) $ 344,190
For the Year Ended January 30, 2004 (Restated)
Dollar General
Corporation
Guarantor
Subsidiaries Eliminations
Consolidated
Total
Statements of Income:
Net sales $ 169,467 $ 6,871,992 $(169,467) $6,871,992
Cost of goods sold — 4,853,863 — 4,853,863
Gross profit 169,467 2,018,129 (169,467) 2,018,129
Selling, general and administrative 132,445 1,537,125 (169,467) 1,500,103
Penalty expense 10,000 — — 10,000
Operating profit 27,022 481,004 — 508,026
Interest income (3,720) (383) — (4,103)
Interest expense 25,336 10,270 — 35,606
Income before income taxes 5,406 471,117 — 476,523
Income taxes 6,560 170,961 — 177,521
Equity in subsidiaries’ earnings, net of taxes 300,156 — (300,156) —
Net income $ 299,002 $ 300,156 $(300,156) $ 299,002
For the Year Ended January 31, 2003 (Restated)
Dollar General
Corporation
Guarantor
Subsidiaries Eliminations
Consolidated
Total
Statements of Income:
Net sales $ 130,152 $ 6,100,404 $(130,152) $6,100,404
Cost of goods sold — 4,376,138 — 4,376,138
Gross profit 130,152 1,724,266 (130,152) 1,724,266
Selling, general and administrative 114,903 1,316,080 (130,152) 1,300,831
Litigation settlement proceeds (29,541) — — (29,541)
Operating profit 44,790 408,186 — 452,976
Interest income (3,213) (1,092) — (4,305)
Interest expense 30,143 16,801 — 46,944
Income before income taxes 17,860 392,477 — 410,337
Income taxes 6,634 141,352 — 147,986
Equity in subsidiaries’ earnings, net of taxes 251,125 — (251,125) —
Net income $ 262,351 $ 251,125 $(251,125) $ 262,351